Meta secretly takes a new direction toward crypto, which has shut down its struggling Diem project nearly three years later. The goal this time is not to build a new digital currency, but to use the current stablecoins to facilitate small payments between platforms such as Instagram.
According to a Fortune report, the company is in discussions with several crypto companies, but has not reached a consensus on the action plan.
Previous plans failed, but new strategies emerged
Meta once had an ambitious plan for his Libra adventure, which eventually brought Diem back. This vision crashes in 2022 under tremendous pressure from U.S. regulators and politicians. The company eventually sold Diem’s assets and bids to Crypto at least to crypto.
Meta CEO Mark Zuckerberg. Image: The420.in
Now, with a new leadership group and a more conservative strategy, Meta is reevaluating the industry. Ginger Baker, who was hired as vice president of products in January, is pioneering discussions about leveraging Stablecoins for commercial and creator payments. She has a background in financial technology and encryption, which may inform the company’s next move.
Here is the full interview with Mark Zuckerberg @stripe This week’s meeting, talking about how AI shapes Meta’s products, Mark’s perspective on leadership and Stablecoins. pic.twitter.com/7hcds5xmck
— John Collison (@Collision) May 8, 2025
Stablecoins can pay for creators
One of the key concepts being considered is to use Stablecoins such as USDC and USDT to remit small spending to creators and businesses around the world. For example, Instagram influencers usually receive payments of about $100 per transaction, which are money that is consumed by regular bank fees when remitting across borders.
With Stablecoins, such payments may be faster and cheaper. It is reported that the meta has not selected a specific stabilizer yet, but various stabilizers will be used depending on the region or application. The cryptographic executor discussed shows that the metadata is still in “learning mode” and can also accept multi-type configurations.
Image: BFA Global
Large financial institutions have also entered stable institutions
Meta is not the only business to explore Stablecoins. Stripe now supports Stablecoins accounts based on over 100 countries. Visa partnered with a company called Bridge and invested in BVNK, a startup specializing in Stablecoins. Fidelity and Ripple are also developing Stablecoin products.
The Stablecoin market has grown to more than $230 billion, and by the end of 2028, according to some analysts, it could hit $2 trillion. In this momentum, there is no doubt that Meta doesn’t want to be left behind.
Featured images from Unsplash, charts for TradingView
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